Earnest Partners LLC Boosts Holdings in Coherent, Inc. (NASDAQ:COHR)

Earnest Partners LLC boosted its position in Coherent, Inc. (NASDAQ:COHR) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 470,408 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,671 shares during the quarter. Earnest Partners LLC’s holdings in Coherent were worth $64,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COHR. Dimensional Fund Advisors LP lifted its stake in Coherent by 22.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 299,361 shares of the scientific and technical instruments company’s stock worth $31,643,000 after purchasing an additional 55,778 shares in the last quarter. Geode Capital Management LLC lifted its stake in Coherent by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 264,429 shares of the scientific and technical instruments company’s stock worth $27,952,000 after purchasing an additional 17,200 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Coherent by 5.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,960 shares of the scientific and technical instruments company’s stock valued at $419,000 after buying an additional 155 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Coherent by 28.2% during the 1st quarter. Janus Henderson Group PLC now owns 2,678 shares of the scientific and technical instruments company’s stock valued at $380,000 after buying an additional 589 shares in the last quarter. Finally, Texas Permanent School Fund raised its position in shares of Coherent by 3.5% during the 1st quarter. Texas Permanent School Fund now owns 16,518 shares of the scientific and technical instruments company’s stock valued at $2,341,000 after buying an additional 565 shares in the last quarter. Institutional investors and hedge funds own 99.40% of the company’s stock.

COHR has been the topic of several research reports. ValuEngine upgraded shares of Coherent from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 4th. Zacks Investment Research cut shares of Coherent from a “hold” rating to a “strong sell” rating in a research report on Monday, August 5th. BidaskClub upgraded shares of Coherent from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Benchmark restated a “buy” rating and set a $165.00 price objective on shares of Coherent in a research report on Wednesday, July 31st. Finally, TheStreet cut shares of Coherent from a “b-” rating to a “c+” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Coherent currently has an average rating of “Buy” and an average target price of $148.00.

Coherent stock opened at $165.85 on Friday. The firm’s fifty day moving average price is $144.48 and its 200-day moving average price is $137.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.34 and a current ratio of 3.97. The stock has a market cap of $3.95 billion, a P/E ratio of 12.72 and a beta of 1.78. Coherent, Inc. has a fifty-two week low of $90.10 and a fifty-two week high of $189.39.

Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.28. The firm had revenue of $339.17 million for the quarter, compared to analysts’ expectations of $348.61 million. Coherent had a net margin of 8.12% and a return on equity of 13.38%. The business’s quarterly revenue was down 29.7% on a year-over-year basis. During the same quarter last year, the company posted $3.51 EPS. On average, analysts predict that Coherent, Inc. will post 4.92 earnings per share for the current year.

Coherent Company Profile

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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